Washington, Dec 28 (IANS) There is fresh evidence of a recovery in the US property market, with the Commerce Department reporting Thursday a solid rise in the number of homes sold in November.
Sales of new single-family houses in November increased to a seasonally adjusted annual rate of 377,000 units, up 4.4 percent from October, and 15.3 percent higher than a year ago, reported Xinhua.
Meanwhile, the median sales price of new houses sold in November edged up to $246,200 from $237,500 in October.
The seasonally adjusted estimate of new houses for sale at the end of November was 149,000 units, which represented a supply of 4.7 months at the current sales rate.
